Blog Write Up6 Jun 2016 16:56
Proton Power Systems (PPS)PPS has done well with the news flow so far this year. Following on from a ‘Surf and Turf’ project in the Orkney Islands on 23 May 2016, in which PPS has been chosen to create a 75kVA containerized fuel cell stationary power system. This order aims to harness wind and tidal energy to generate hydrogen, which is then stored in the cell to provide electricity for the harbour in the Orkney Islands. Energy storage appears to be the big thing that the renewable energy industry is talking about and it’s nice to see that PPS is market-ready and already receiving interest for this. I look forward to seeing many more of these energy storage solutions in the future – the Orkney Islands are just one place in a much bigger world!PPS also informed the market on 31 May 2016 that a 7 year framework has been agreed with a blue-chip customer for a total value of ~15m Euro. This blue-chip customer is the same one which gave an initial order in April 2016. This agreement has set a base of long term revenue from which PPS can work up from. It is interesting to note that this agreement only covers one region in Germany – Bavaria. In time, I speculate expansion into the rest of the country. The statement made at the AGM also mentioned that the order book for 2016 is 2.5m Euro, and this is already well ahead of the total revenue for the previous financial year.As a long term shareholder in PPS, I would like to see the company continue to have a long term sustainable growth in revenue and I am happy to wait and see how the story unfolds given the recent strengthening of the long term revenue stream. PPS also has a blog featured on its website which sometimes passes comments on things happening in the alternative energy sector which are good for those who like to do general research.
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